The presidential candidate of the African Democratic Congress (ADC), Atiku Abubakar, has criticised the economic policies of President Bola Tinubu over the reported withdrawal of foreign portfolio investments from Nigeria.
Atiku described the development as a “vote of no confidence” in the Tinubu administration’s management of the economy.
In a statement issued on Tuesday by his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku cited data from the Nigerian Exchange, saying foreign investors brought ₦513.36 billion into Nigeria’s equities market between January and July 2026 but withdrew ₦779.43 billion during the same period.
He said the figures resulted in a net outflow of ₦266.07 billion, compared with a net outflow of ₦22.68 billion recorded during the corresponding period in 2023.
According to Atiku, foreign portfolio investment outflows exceeded inflows in every month between January and July 2026.
He argued that the figures were a reflection of investor confidence in the Nigerian economy, rather than simply investment statistics.
Atiku also linked the reported decline in foreign investment to increased government borrowing and pressure on the private sector.
He cited reports that the Federal Government’s domestic borrowing had risen by 90.5 per cent to ₦24.7 trillion in eight months, arguing that increased government borrowing was competing with businesses for access to domestic credit.
The former vice president further criticised the administration over the rising cost of living, including food and transportation costs, as well as the challenges facing businesses.
Atiku questioned the government’s continued celebration of its economic reforms, arguing that positive headline economic figures would have little meaning if businesses continued to struggle with financing and operating costs while households faced declining purchasing power.
He said investors were considering factors such as policy consistency, inflation, purchasing power, regulatory stability and the prospects of earning sustainable returns when deciding whether to invest in Nigeria.
Atiku called on the Federal Government to review its economic policies to restore investor confidence, reduce the cost of doing business and make energy and transportation more affordable.
He also advocated greater emphasis on private-sector production, arguing that sustainable economic growth should be driven by businesses and households rather than increased government borrowing.
Atiku warned that Nigeria could not continue to put pressure on the private sector through increased borrowing, weaken household purchasing power and simultaneously seek to attract foreign investment.
The ADC candidate’s comments come amid ongoing debate over the impact of the Tinubu administration’s economic reforms and their effects on businesses, investors and ordinary Nigerians.
